IT Management Company BigPanda Raises $50 Million

IT management company BigPanda Inc. has raised a $50 million series C funding round, the company announced Thursday. The round was led by Insight Partners, with participation from existing investors Sequoia Capital, Battery Ventures, and Mayfield Fund LLC. This investment brings BigPanda’s total equity raised to date to more than $120 million.

Founded in 2012 and headquartered in Mountain View, California, BigPanda develops a machine learning-based service that aggregates multiple data sources and alerts into specific, manageable issues for enterprise IT teams. The company lists Intel, Turner Broadcasting, and Warner Media LLC among its customers.

The company currently employs 40 people in its research and development office in Tel Aviv, and intends to use the funding to hire an additional 30 people.